Good morning #ChamberWorld! It's going to be a great day!
#ChamberDelight: Ford beefs up F-150 Lightning production in a forceful bid to dominate the electric pickup market
DETROIT – Ford Motor is set to be the first automaker to bring a mainstream, full-size electric pickup to the U.S. market, poised to capitalize on a first-mover advantage in what’s expected to be a hotly contested segment in the years to come.
Ford CEO Jim Farley said the company plans to scale production of its electric F-150 Lightning pickup faster than its competitors, with plans to increase production of the Lightning at a plant in Dearborn, Michigan, to 150,000 units in the next year or so, up from an initial target of 40,000 vehicles.
That would dwarf plans of Rivian Automotive and General Motors, which are expected to be in the tens of thousands. Both are already producing and selling pricier electric pickups in smaller and larger truck segments.
Other companies, specifically EV start-ups, have previously touted the electric pickup as a massive opportunity, but have so far failed to execute on a large scale.
“In this market, being a first mover is a very, very important move,” Farley told CNBC. “We didn’t know we’d be first, but we worked fast in case we were, and it’s worked out that way. I think it could be one of the most important advantages we have.” Read more: CNBC
One of the core missions of the Prince William Chamber of
Commerce is to support new opportunities for economic growth and advancement,
not only in our county, but throughout the Commonwealth as many our members
conduct business statewide. Representing companies which employ nearly
70,000 individuals, the Prince William Chamber is a positive and strong voice
for the business community. An NFL stadium and the related retail,
hospitality, and commercial development anticipated to accompany it could
generate thousands of jobs and create millions of dollars in net new tax
revenue for the Commonwealth.
The Prince William Chamber expects that the public policy
necessary to realize this opportunity would be balanced and make sense for both
the Virginia taxpayers and the project. As such, The Prince William
Chamber of Commerce encourages our state legislators to pass the bill to create
the Virginia Football Stadium Authority, as a necessary precursor for the
Commonwealth to remain competitive in its endeavor to bring an NFL team to our
state.
The 2021-2022 Geneva Lake West Chamber of Commerce Community Resource Guide is available at the chamber today ! Thanks to Becke Connelly and the chamber team for their help and direction with this publication
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